EUR/GBP: Next target is 0.7057 - CB

FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that EUR/GBP had seen a sharp rally to the 55 day ma at 0.7203 and noted the support area we are on guarding next target.

Key Quotes:

"This looks quite directional and the risks have increased for a challenge to the 0.7280, the 2015 resistance line. Dips should find initial support at 0.7185/55 ahead of the 0.7057 May low."

"The market has recently charted a key day reversal from the base of the 0.6985 6 year down channel. This was our medium downside target."